Chinese EV startup Nio raises $1 billion in new fundraising round

By Charles Morris Chinese EV startup Nio, formerly known as NextEV, has raised more than $1 billion in its latest fundraising round, led by existing investor Tencent Holdings, bringing the firm’s valuation to about $5 billion, Reuters reports.
Nio, which was founded by Chinese internet entrepreneur William Li in 2014, plans to launch its …read more